Notice how COVID-19 affects marketing and how you should react
As for 27 July 2020, coronavirus cases have passed 15 million. And, more than 630 thousand of people have died. COVID-19 has brought many industries to the edge of the cliff. Travel activities and film production houses are stopped. It matters of time the businesses wonder how COVID-19 affects marketing.
The World Economic Forum stated the impact of three quarters of this year is presumably worse than the financial crisis in 2008. Even though the revenue is shaken, marketers have to shift the mindset. They need to adapt their marketing strategies if they want to stay alive in this era of uncertainty. Here are some facts about how COVID-19 affects marketing.
The effects are not equal
Today, you can see the companies are splitting into two sections. One has skyrocketing orders like groceries, household goods, and health supplies. As people spend their media time online, internet service companies are also predicted to grow their revenue. The example is Tencent. It is a Chinese internet services company that gains more than 30 percent of digital revenue ads.
Yet, the other one is suffering in downtime like hospitality, travel, and automotive. Hence, you can barely see ads from travel and luxury because people will most likely not buy from them. A statistic shows that the travel sector decreases its ad spend up to 65 percent. Yes, people will question how those industries help them cope with the situation if they keep advertising themselves.
Some media companies feel both situations on how COVID-19 affects marketing. For instance, The New York Times earned quite a lot on its subscription revenue, but its advertising revenue decreases. It happens because many brands avoid associating themselves with coronavirus content.
E-commerce and social media have reached their peak
World Trade Organization informed COVID-19 has led consumers to do online shopping. It results in people become more digital. Then, sellers increase their marketing efforts in e-commerce to optimize this opportunity. Deloitte agrees with this argument as they see traffic growth up to 13 percent in Q1 2020 than Q1 2019.
The government in many countries warned people to stay at home. Thus, shoppers can only count on digital platforms to consider their purchase. Their buying journey does not happen only on the e-commerce and search engines, but also from social media. The traffic from social media grows more than the same period last year. Furthermore, 14 percent of consumers buy a product from social media.
Working from home and productivity
Social media purchases may perform positive growth. Yet, the company shows the opposite action. Influencer Marketing Hub informed over 70 percent of brands post less on their company social media accounts.
Some companies think it is useless to constantly promote their brand. Their shops are closed because of the lockdown policy. Moreover, their social media managers are settled to work from home. It means that they will not be as productive as they were before the pandemic.
It may also happen because of the engagement drop. Instagram has a 14 percent drop in the followers engagement. Then, Facebook follows it with 13.5 percent. Twitter performs better with “only” 7 percent drop because many people rely on it to keep them up with news and trends.
Changing marketing trends
Many fields get harmed by how COVID-19 affects marketing. Thus, they need several adjustments in their marketing campaigns. Here are some trends in marketing during coronavirus pandemic.
Talks about coronavirus
Google Trends shows the rapid growth of the “coronavirus” keyword. No wonder that it becomes a trending topic across platforms and industries. Many companies see this as an opportunity to keep engaged with their audience. They bring the topic to the floor.
Take a look at Adidas’ Instagram account. When the pandemic started spreading, Adidas created content about working from home with a hashtag #hometeam. It talks about some athletes’ activities during the quarantine. Adidas also features healthcare workers who are the frontlines of this global pandemic.
Although the Instagram engagement drops, influencers’ posts about the virus exceed 2.9 billion! It includes other related hashtags like #coronavirus, #pandemic, and #covid19. Moreover, people only research a product from digital platforms during the pandemic. They need a “property” that does not belong to the brand which is the influencer.
Bring the situation at home
Making an ad about a situation at home is relatable to everyone. But, you have to do it in a creative way since most people have known about this condition.
They need a helpful guide, not a warning about how COVID-19 affects your marketing or themselves. These brands can give you inspiration! They do not only tell a story but also “offer” a solution to their consumers.
The prime example is Grab. It is a multinational ride-hailing company that is based in Singapore. During Ramadan, the sacred month in Islamic culture, they introduce the #SiapAntarRamadanmu campaign. It is about how Grab with their services can help people enjoy the celebration by staying at home.
Apple has another way to be creative. They provide a story behind workers during working at home. The situation is a bit chaotic because they are apart and cannot be productive at home. Yet, these four employees smoothly perform “how to use Apple features” in the video.
Eliminating all face-to-face events
One of the marketing strategies to stay in touch with their audience is by creating an event. You can hold an anniversary party, meet and greet, seminar, and conference. But, COVID-19 will not allow you to do that because you have to maintain the social distance.
Thus, many brands focus on building online connections with their content. They hold webinars, IG live, or YouTube live. In this event, do not only discuss coronavirus. But, make webinars in your niche with the expert that can educate your audience. For example, Elementor, a website builder, talked about a creative career with Chris Do from The Futur.
Now, you realize how COVID-19 affects marketing. Yet, keep creative and maximize the possible tools, so your brand can stay alive.